Generalists versus specialists : iberian public firm performance in a gender perspective

Detalhes bibliográficos
Autor(a) principal: Santos, Diogo Vicente Lopes da Silva
Data de Publicação: 2022
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.14/38680
Resumo: We propose that general managerial skills gathered during lifetime work experience are negatively related to firm performance even though generalist CEOs often demand a considerable pay premium. This negative performance should be alleviated with longer CEO tenure and vary with gender and macroeconomic conditions. We use CEO data of 88 public Iberian firms from 2010 through 2020 to build an index that represents general managerial skills over five categories that are transferable across industries and companies. Based on this sample, we find support for the negative association between the degree of general expertise and performance which is lessened in periods of crisis (in this case of the sovereign debt crises that affected both Portugal and Spain) and in case the CEO is a woman. Male CEOs with generalist skills, during crisis times, outperform their specialist counterparts, while the winners are generalist women who outperform specialist men in the top corporate position. These findings have repercussions for the more and more widespread practice of seeking to hire more generalist CEOs in an attempt to enhance firm performance, and the historical bias towards men leading the corporate world.
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spelling Generalists versus specialists : iberian public firm performance in a gender perspectiveGeneralistsCorporate financePerformanceGenderGeneralistasFinanças corporativasRendimentoGéneroDomínio/Área Científica::Ciências Sociais::Economia e GestãoWe propose that general managerial skills gathered during lifetime work experience are negatively related to firm performance even though generalist CEOs often demand a considerable pay premium. This negative performance should be alleviated with longer CEO tenure and vary with gender and macroeconomic conditions. We use CEO data of 88 public Iberian firms from 2010 through 2020 to build an index that represents general managerial skills over five categories that are transferable across industries and companies. Based on this sample, we find support for the negative association between the degree of general expertise and performance which is lessened in periods of crisis (in this case of the sovereign debt crises that affected both Portugal and Spain) and in case the CEO is a woman. Male CEOs with generalist skills, during crisis times, outperform their specialist counterparts, while the winners are generalist women who outperform specialist men in the top corporate position. These findings have repercussions for the more and more widespread practice of seeking to hire more generalist CEOs in an attempt to enhance firm performance, and the historical bias towards men leading the corporate world.Propomos que as competências gerais de gestão recolhidas durante a experiência de trabalho ao longo da vida profissional estejam negativamente relacionadas com o desempenho da empresa, embora os CEO mais generalistas exijam um premium salarial considerável. Este desempenho negativo deve ser atenuado com o tempo cumulativo do CEO na empresa, género e estado de crise macroeconómico. Utilizamos dados de CEO de 88 empresas públicas ibéricas de 2010 a 2020 para construir um índice que representa competências gerais de gestão ao longo de cinco categorias que são transferíveis entre indústrias e empresas. Com base nesta amostra, encontramos apoio à associação negativa entre o grau de especialização geral e o desempenho que é diminuído em períodos de crise (neste caso particular das crises da dívida soberana que afetaram tanto Portugal como Espanha) e no caso de o CEO ser uma mulher. Os CEO masculinos com habilidades generalistas, durante os tempos de crise, superam o seu homólogo especialista, enquanto os vencedores são mulheres generalistas que superam os homens especialistas no cargo de topo corporativo. Estas conclusões preliminares têm repercussões para a prática cada vez mais generalizada de procurar contratar CEOs mais generalistas numa tentativa de melhorar o desempenho da empresa, e a tendência histórica para a liderança dos homens no mundo corporativo.Bonfim, Diana Carina Ribeiro GuimarãesVeritati - Repositório Institucional da Universidade Católica PortuguesaSantos, Diogo Vicente Lopes da Silva2022-09-02T09:35:33Z2022-01-282022-012022-01-28T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/38680TID:202964507enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-12T17:44:11Zoai:repositorio.ucp.pt:10400.14/38680Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:31:35.466236Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Generalists versus specialists : iberian public firm performance in a gender perspective
title Generalists versus specialists : iberian public firm performance in a gender perspective
spellingShingle Generalists versus specialists : iberian public firm performance in a gender perspective
Santos, Diogo Vicente Lopes da Silva
Generalists
Corporate finance
Performance
Gender
Generalistas
Finanças corporativas
Rendimento
Género
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Generalists versus specialists : iberian public firm performance in a gender perspective
title_full Generalists versus specialists : iberian public firm performance in a gender perspective
title_fullStr Generalists versus specialists : iberian public firm performance in a gender perspective
title_full_unstemmed Generalists versus specialists : iberian public firm performance in a gender perspective
title_sort Generalists versus specialists : iberian public firm performance in a gender perspective
author Santos, Diogo Vicente Lopes da Silva
author_facet Santos, Diogo Vicente Lopes da Silva
author_role author
dc.contributor.none.fl_str_mv Bonfim, Diana Carina Ribeiro Guimarães
Veritati - Repositório Institucional da Universidade Católica Portuguesa
dc.contributor.author.fl_str_mv Santos, Diogo Vicente Lopes da Silva
dc.subject.por.fl_str_mv Generalists
Corporate finance
Performance
Gender
Generalistas
Finanças corporativas
Rendimento
Género
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Generalists
Corporate finance
Performance
Gender
Generalistas
Finanças corporativas
Rendimento
Género
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description We propose that general managerial skills gathered during lifetime work experience are negatively related to firm performance even though generalist CEOs often demand a considerable pay premium. This negative performance should be alleviated with longer CEO tenure and vary with gender and macroeconomic conditions. We use CEO data of 88 public Iberian firms from 2010 through 2020 to build an index that represents general managerial skills over five categories that are transferable across industries and companies. Based on this sample, we find support for the negative association between the degree of general expertise and performance which is lessened in periods of crisis (in this case of the sovereign debt crises that affected both Portugal and Spain) and in case the CEO is a woman. Male CEOs with generalist skills, during crisis times, outperform their specialist counterparts, while the winners are generalist women who outperform specialist men in the top corporate position. These findings have repercussions for the more and more widespread practice of seeking to hire more generalist CEOs in an attempt to enhance firm performance, and the historical bias towards men leading the corporate world.
publishDate 2022
dc.date.none.fl_str_mv 2022-09-02T09:35:33Z
2022-01-28
2022-01
2022-01-28T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.14/38680
TID:202964507
url http://hdl.handle.net/10400.14/38680
identifier_str_mv TID:202964507
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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